Sales have increase 47.1% over last year!
The real estate market in 2020 showed resiliency and finished the year with an increase in sales and decrease in inventory. Total residential unit sales in the Greater Edmonton Area (GEA)* real estate market for January 2021 increased 47.1% compared to January 2020 and increased 5.9% from December 2020. The number of new residential listings is up year over year, increasing 8% from January 2020. New residential listings are up month over month, increasing 87.9% from December 2020. Overall inventory in the GEA fell 17% from January of last year and increased 5% from December 2020.
For the month of January, single family home unit sales are up 50.1% from January 2020 and up 8.5% from December 2020 at 737. Condo unit sales increased 43.8% from January 2020 and increased 2.7% from December 2020.
All residential average prices are up to $364,040, a 3.7% increase from January 2020, and up 0.4% from December 2020. Single family homes sold for an average of $427,677, a 3.2% year-over-year increase from January 2020, and a 0.4% decrease from December 2020. Condominiums sold for an average of $216,757, a 6.1% increase year-over-year, and prices are down 0.5% compared to December 2020. Duplex prices increased 1.6% from January 2020, selling at $344,400, which was a 4% decrease from December 2020.
“The Edmonton market in January saw an increase in year-over-year residential unit sales as well as month-to-month sales,” says REALTORS® Association of Edmonton Chair Tom Shearer. “There have also been more sales of single-family homes, condos and duplexes compared to January of last year, while we’ve seen an increase in month over month sales for single-family homes and condos and a decrease in duplex rowhouse sales. We are encouraged to see this kind of activity at the start of the year, which is typically a slower time in the real estate market, and especially in the current economic climate.”
Single family homes averaged 59 days on the market, a 14-day decrease from January of last year. Condos averaged 73 days on the market, a 10-day decrease year-over-year, while duplexes averaged 70 days on market, a 15-day decrease compared to January 2020. Overall, all residential listings averaged 65 days on market, decreasing by 14 days year-over-year and increasing by 7 days compared to the previous month.
|
MLS® System Activity 2021 |
January 2021 |
M/M % Change |
Y/Y % Change |
|
(for all-residential sales in GEA1) |
|
|
|
|
SFD2 average3 selling price – month |
$427,677 |
-0.4% |
3.2% |
|
SFD median4 selling price – month |
$395,000 |
-1.2% |
2.9% |
|
Condominium average selling price |
$216,757 |
-0.5% |
6.1% |
|
Condominium median selling price |
$195,000 |
1.6% |
4.0% |
|
All-residential5 average selling price |
$364,040 |
0.4% |
3.7% |
|
All-residential median selling price |
$349,500 |
2.8% |
4.3% |
|
# residential listings this month |
2400 |
87.9% |
8.0% |
|
# residential sales this month |
1171 |
5.9% |
47.1% |
|
# residential inventory at month end |
5255 |
5.0% |
-17.0% |
|
# Total6 MLS® System sales this month |
1,515 |
8.4% |
56.2% |
|
$ Value Total residential sales this month |
$445,155,516 |
6.3% |
53.7% |
|
$ Value of total MLS® System sales – month |
$564,765,261 |
12.7% |
61.7% |
|
$ Value of total MLS® System sales - YTD |
$564,765,261 |
-92.8% |
63.8% |
|
MLS® HPI Benchmark Price* |
January 2021 |
M/M % Change |
Y/Y % Change |
|
(for all-residential sales in GEA1) |
|
|
|
|
SFD2 benchmark price |
$388,900 |
0.0% |
4.0% |
|
Apartment benchmark price |
$174,800 |
-1.6% |
-6.0% |
|
Townhouse benchmark price |
$210,900 |
-0.9% |
0.2% |
|
Composite7 benchmark price |
$326,500 |
-0.2% |
2.5% |
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